70
70
Sep 25, 2013
09/13
by
ALJAZAM
tv
eye 70
favorite 0
quote 0
i understand that las vegas realtors a year ago were closing 4600 homes a month, and now we're down to about 3600. >> yeah, what happened a year ago, all of the investors came in and bought the houses and rented them. now that that's the that that has increased, there are actual hedge funds buying large groups of houses, i think they have mainly left the city. >> and we have been following that story, a lot of them are in georgia. there are these patches of renter nation going on across the country. when you have buyers do they need to be cash buyers or are people getting loans? >>, you know, there are a lot of cash buyers that are not investors, but i love the comparison of interest rate at 4.5. when i bought my first home in '77 in new york, my interest rate with perfect credit was 8.5. so your buying power at 4.5 is still so great that yes, the american dream of owning your own home is still intact in the united states. >> i wish you the best of luck out there. i really do hope nevada november -- i hope people are able to stay in their homes. >>> let's get a broader view of what is
i understand that las vegas realtors a year ago were closing 4600 homes a month, and now we're down to about 3600. >> yeah, what happened a year ago, all of the investors came in and bought the houses and rented them. now that that's the that that has increased, there are actual hedge funds buying large groups of houses, i think they have mainly left the city. >> and we have been following that story, a lot of them are in georgia. there are these patches of renter nation going on...
271
271
Sep 19, 2013
09/13
by
ALJAZAM
tv
eye 271
favorite 0
quote 0
the realtors group says retire traffic dropped off significantly in august meaning sales could slow down in the months ahead. tesla is going on auto pilot, elon musk says the company is looking for a automated car in three years. >>> senate hearings have begun for caroline kennedy, president obama's nominee for the necessary ambassador to japan. she wants to carry on her father always legacy of public service. >> this appointment has a special significance as we commemorate the 50th anniversary of my freart's presidency. i'm are conscious to uphold the older that he committed. a more peaceful world. as a world war ii veterans who served in the pacific he had hoped to be the first sitting president to make a state visit to japan. if confirmed as ambassador i would be humbled to carry forward his legacy in a small way and represent the powerful bonds that unite our two democratic societies. i can think of no other country that i would like to serve than japan. >> caroline kennedy would be the first woman to hold that post if confirmed. >>> a big archaeological find, a historically signific
the realtors group says retire traffic dropped off significantly in august meaning sales could slow down in the months ahead. tesla is going on auto pilot, elon musk says the company is looking for a automated car in three years. >>> senate hearings have begun for caroline kennedy, president obama's nominee for the necessary ambassador to japan. she wants to carry on her father always legacy of public service. >> this appointment has a special significance as we commemorate the...
136
136
Sep 1, 2013
09/13
by
ALJAZAM
tv
eye 136
favorite 0
quote 0
. >> shari l i have a r is a local realtor. >> hedge funds are realizing our margaret is going from what they refer to as an owner nation on a repeater nation. so the rental market is huge. >> en though the housing market is improving a new morgan stanley report says homeowners who have defaulted on their mortgage will likely have no choice but to rent. that will likely result in, quote, moving the country towards a rentership society. >> the institutional investor presence is led by three large groups that appear to have pulled away from the pack. first is blackstone's invitation homes. second, american homes for rent, which recent ipoed. and, third, colony american homes. >> big investors are pooling some of these homes into so-called real estate investment trusts or riets popular for investing in real estate and trade on the stock exchange. blackstone, which is nots a riet buys under the name "invitation homes," the largest firm in the game owning 30,000 homes. >> blackstone, in atlanta, has purchased over 8,000 houses. >> local broker david hunt says the institutional invest are chan
. >> shari l i have a r is a local realtor. >> hedge funds are realizing our margaret is going from what they refer to as an owner nation on a repeater nation. so the rental market is huge. >> en though the housing market is improving a new morgan stanley report says homeowners who have defaulted on their mortgage will likely have no choice but to rent. that will likely result in, quote, moving the country towards a rentership society. >> the institutional investor...
73
73
Sep 19, 2013
09/13
by
ALJAZAM
tv
eye 73
favorite 0
quote 0
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i've accomplished in my life until i was like okay, open the door, this is my home, i own this. >> whether it's a starter or a luxury home, people here are learning that waiting can cost them. if they see a home they want three better pounce before along with a better offer. natasha gi nain >> welcome to al jazeera. i'm stephanie sy. the northwest coast of mexico is bracing for manuel. the tropical storm increased to a hurricane wednesday evening. an area low pressure devastated to hurricane ingrid. >>> the future of detroit's bankruptcy is now in the hands of a court. the judge will hear evidence whether detroit is eligible for chapter 9 bankruptcy. if bankruptcy is granted retired city workers are in danger of losing their
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i've accomplished in my life until i was like okay, open the door, this is my home, i own this. >> whether it's a starter or a luxury home, people here are learning that waiting can cost them. if they see a home they want three better pounce before along with a better offer. natasha gi nain >> welcome to al...
66
66
Sep 19, 2013
09/13
by
ALJAZAM
tv
eye 66
favorite 0
quote 0
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i've accomplished in my life until i was like okay, open the door, this is my home, i own this. >> whether it's a starter or a luxury home, people here are learning that waiting can cost them. if they see a home they want three better pounce before someone comes along with a better off. natasha dunane, al jazeera, miami-dade county. >> that is it for us tonight. if you want to comment about any of our stories, log on to aljazeera.com/america tonight. tell us what you want to see in our nightly current affairs program. also, join the conversation with us at twitter or our facebook page. good night, we'll see you tomorrow. >>> egyptian security forces storm a cairo neighborhood arresting 48 people and looking for dozens of others. >>> hello, and welcome. you're watching al jazeera live from dohdoha. >> translator: we have not pursued our sought a nuclear and won't do it. >> iran's new presiden
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i've accomplished in my life until i was like okay, open the door, this is my home, i own this. >> whether it's a starter or a luxury home, people here are learning that waiting can cost them. if they see a home they want three better pounce before someone comes along with a better off. natasha dunane, al jazeera,...
87
87
Sep 19, 2013
09/13
by
ALJAZAM
tv
eye 87
favorite 0
quote 0
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i have accomplished in my life until i was like okay open the doors this is my home, i own this. >> whether it is a starter or a luxury home people here are learning waiting can cost them. if they see a home they want, they better pounce before someone accommodation along with a better offer. >> coming up, dave warren is back with those storms over mexico. we appreciate you spending time with us tonight. >>> up next is the golden age of hollywood going golden but elsewhere. why l.a.'s mayor has declared a state of emergency for the entertainment industry there. next. hi, my name is jonathan betz, >> i'm meteorologist dave warren. new information from the national hurricane center has hurricane manuel over the gulf of california, intensified but only five miles an hour, not much movement, that means it's dumping a lot of rain over the same area, a big problem there. southern part of mexico po
. >> as for sardino and cano, they got a call from their realtor. they finally landed this new home. >> i guess i couldn't really feel the success of everything i have accomplished in my life until i was like okay open the doors this is my home, i own this. >> whether it is a starter or a luxury home people here are learning waiting can cost them. if they see a home they want, they better pounce before someone accommodation along with a better offer. >> coming up, dave...
84
84
Sep 18, 2013
09/13
by
ALJAZAM
tv
eye 84
favorite 0
quote 1
as for sardineo and cano, just when they started to retreat from the stress, they got a call from a realtor, and 24th finally landed this new home. >> i guess i couldn't feel the success of everything that i accomplished in my life until i opened the door, and okay, i own this. >> when it's a starter or a luxury home, waiting can cost them. when they see a new home, they better pounce before someone comes along with a better offer. >> pandora can play all of music at once. that's the ruling that the judge handled down over the license dispute. the ruling holds in an existing contract between pandora and the american society of composers and authors and publishers. the judge said that it ambiguously allows them to play their entire catalog, artists like beyonce' and katy perry. >> . >> pieces by budding artists are being snatched up by investors, while traditional works are taking a hit. >> she's one of nigeria's budding artists. it's called unmatched beauty. the paints include diverse scenes that are images from africa. in this one, creation in the garden of eden. in this series of what she
as for sardineo and cano, just when they started to retreat from the stress, they got a call from a realtor, and 24th finally landed this new home. >> i guess i couldn't feel the success of everything that i accomplished in my life until i opened the door, and okay, i own this. >> when it's a starter or a luxury home, waiting can cost them. when they see a new home, they better pounce before someone comes along with a better offer. >> pandora can play all of music at once....
28
28
Sep 19, 2013
09/13
by
CNBC
tv
eye 28
favorite 0
quote 0
now, realtors say they expect sales to drop from here. why? well, fewer distressed homes for sale, down to just 12% of sales in august, the lowest since they bow gan tra began tracking this. 17% of buyers and they had been far higher. and first-time homebuyers, realtors say that segment has collapsed. just 28% of buyers this august. they should be up in the 40 % range. what's holding them out? tight credit. rates are, of course, falling again. they had been up around 4.8% in the past few weeks. they dropped dramatically after bernanke tabled the taper. rates today, depends on your lender, but 4.25% is once again a viable rate, but you would have to likely pay points. the range now is 4.37% to 4.5% in general if you want to point and you're a good credit risk with a large down payment. costs might be higher for the rate and all of this is from "mortgage news daily." what about rates going forward? don't expect them to fall much more dramatically. don't expect them to rise much more dramatically. experts say they should stay right about where th
now, realtors say they expect sales to drop from here. why? well, fewer distressed homes for sale, down to just 12% of sales in august, the lowest since they bow gan tra began tracking this. 17% of buyers and they had been far higher. and first-time homebuyers, realtors say that segment has collapsed. just 28% of buyers this august. they should be up in the 40 % range. what's holding them out? tight credit. rates are, of course, falling again. they had been up around 4.8% in the past few weeks....
84
84
Sep 19, 2013
09/13
by
CNBC
tv
eye 84
favorite 0
quote 0
interesting, though, the realtors say lower rates will not help home sales this fall. closed existing hem sales rose 1.7% in august, boati inbeating expectations. the realtors call that the last hurrah as buyers got off the fence and signed contracts in june, fearing higher rates. they expect sales to fall this fall and into 2014 because of very tight inventory and still very tight credit. there's, of course, lots more, in the one, but two articles online, realty tl check.cnbc.com. >> thanks very much. >>> wells fargo, the largest u.s. mortgage lender says it's going to cut 1800 jobs because of lower demand for refinancing amid those higher interest rates. the stock of wells fargo down 47 cents at $42.85. >>> you can call it a whale of a setment. kayla tausche with the fallout from jpmorgan's $900 million headache. kayla? >> well, tyler, the banks's price tag forty london whale trading debacle has the twoen costly and still growing. other regulatory issues are popping up. why it matters and what's next for that stock. that's up next after this break. you really love, w
interesting, though, the realtors say lower rates will not help home sales this fall. closed existing hem sales rose 1.7% in august, boati inbeating expectations. the realtors call that the last hurrah as buyers got off the fence and signed contracts in june, fearing higher rates. they expect sales to fall this fall and into 2014 because of very tight inventory and still very tight credit. there's, of course, lots more, in the one, but two articles online, realty tl check.cnbc.com. >>...
83
83
Sep 11, 2013
09/13
by
CNBC
tv
eye 83
favorite 0
quote 0
not surprisingly constructed by realtors. it's been plummeting lately and the affordability has plummeted below its long-term trend line. the only other time it's done that for months on end, was during the last housing bubble beginning in 2004. that was the indication that be w he were in a bubble then. once again it's an indication we're in a bubble. >> susan, you disagree. tell me why given what john just cited. >> well the plunge is very interesting. how fast that affordability has declined. but still, 60% of -- we have more, the average family has more than 60% of the income they need to buy the median house. >> okay. hold that thought, susan. >> right. well that's definitely true. >> john. >> sorry. >> i have to go to rick santelli. this will involve the housing market because we have the ten-year auction today. what does it look like? >> holy cow. auction gets an a-plus. 21 billion reopened. nine year 11 month we auctioned the series last month. the yield 2.946. well below the market of 297 offered at 296.5. the bid to
not surprisingly constructed by realtors. it's been plummeting lately and the affordability has plummeted below its long-term trend line. the only other time it's done that for months on end, was during the last housing bubble beginning in 2004. that was the indication that be w he were in a bubble then. once again it's an indication we're in a bubble. >> susan, you disagree. tell me why given what john just cited. >> well the plunge is very interesting. how fast that affordability...
236
236
Sep 26, 2013
09/13
by
CNBC
tv
eye 236
favorite 0
quote 0
this is exactly what the realtors were warning off when it was said to be the last hoo rah. >> what is the toyota view? >> not in my lifetime. >> not in your life? >> no. >> you just ruined it for everybody. >> based on today's meeting seems they are not ready to announce a winner. >> i think japanese exporters are the place to be. i would say that this whole gop stall. i think it's a joke that the tea party is ruling the gop here. >> that's all you have to say. >> that's all you have to say? >> you have got to garner a couple of extra votes? >> you go back in there. you can't continue to campaign. >> and that is his main argument. you vote. you tell me. >> this from the pretty boy on the end. >> time to hit today's trending trades. first up it's a stock that is up 455% this year. december lahas hit yet another new all time high. >> i'm still long. we have talked about tesla. they are taking market share from lexus and audi and bbmw. people love the product. i'm long it. they will be trying to double production next year. they will try to sell just as many cars outside the united state
this is exactly what the realtors were warning off when it was said to be the last hoo rah. >> what is the toyota view? >> not in my lifetime. >> not in your life? >> no. >> you just ruined it for everybody. >> based on today's meeting seems they are not ready to announce a winner. >> i think japanese exporters are the place to be. i would say that this whole gop stall. i think it's a joke that the tea party is ruling the gop here. >> that's all...
156
156
Sep 19, 2013
09/13
by
CNBC
tv
eye 156
favorite 0
quote 0
the realtors themselves saying this is, quote, the last hurrah. they say this was numbers from june. these are signed contracts in june which go to closings in august. they say that was people respond together higher interest rates and jumping into the market in fear of rates going higher. they expect sales to go lower throughout the fall. median home pretty, $212,100. up 14% year over year. this is a mix of homes issue because the realtors use a median home price. home over half a million dollars are up 30% over a year ago. inventory continues to be the issue, down 6% year over year, just 2.25 million homes for sale, a 4.9 month supply and the realtors say they expect that amount to go down as well to keep places high because of low inventories. sales on pace at the highest level in six and a half years, even higher than the home buyer tax credit. carl? >> thank you very much, diana. pretty good data. let's see what it all means for the economy, especially in light of yesterday's decision. steve liesman is back at headquarters with a lot more. >>
the realtors themselves saying this is, quote, the last hurrah. they say this was numbers from june. these are signed contracts in june which go to closings in august. they say that was people respond together higher interest rates and jumping into the market in fear of rates going higher. they expect sales to go lower throughout the fall. median home pretty, $212,100. up 14% year over year. this is a mix of homes issue because the realtors use a median home price. home over half a million...
231
231
Sep 11, 2013
09/13
by
CNBC
tv
eye 231
favorite 0
quote 0
we get a realtor in europe, we get super duper growth in china. an acceleration of sales in the u.s. and talk about underpromising and over delivering and howard announces baked good and juices that have been tested where the stuff's offered so they'll roll it out nationally. look out. now that's a man who knows what a presentation's all about. shock factor! we'll take two of the best-performing stocks. have you noticed how they keep estimates? they've kept a little in the estimates and the degeneration drug for two years ago and celgene has tried to lay off, because he may underdeliver on approvals. he isn't control them. he knows better. the most important thing you need to understand is this is nota i dirty game. it's not beneath anyone. i first heard upod explained to me by a major consumer products ceo and everyone who is watching knows this dump's products. see, it's part of a roadshow when with i was a money manager. i told him what i thought he could earn and all of the good news he expected from this firm and he told me to give him a brea
we get a realtor in europe, we get super duper growth in china. an acceleration of sales in the u.s. and talk about underpromising and over delivering and howard announces baked good and juices that have been tested where the stuff's offered so they'll roll it out nationally. look out. now that's a man who knows what a presentation's all about. shock factor! we'll take two of the best-performing stocks. have you noticed how they keep estimates? they've kept a little in the estimates and the...
141
141
Sep 19, 2013
09/13
by
CNBC
tv
eye 141
favorite 0
quote 0
were at a six-year high, the commentary from what a lot of people feels is a house organization for realtors, it was incredibly downbeat with the chief economist lawrence jeune calling it the last hora and saying the economy was experiencing a temporary peak. boy, i'll tell you i didn't find that reassuring. that's terrific for traffic and spending, right? i mean they whacked it for a buck 39. plus it's incredibly hard to figure out what to do with financials. they're going up because they do better in a rising rate environment but now we have a full rate environment. so we have to sell so much because of the fed's actions? big insurers like prudential and them get killed? one of the best performers for the year. they all got crushed. wait a second, though. travelers catches an upgrade and flies up a dollar. what do we do. bierks sell, buy, sell. at moments like these, listen up. i've been there. moments like these, it's helpful to remind people you want to buy companies that aren't impacted by this vortex at all, companies like the big industrial companies, the enterprises the fed doesn't c
were at a six-year high, the commentary from what a lot of people feels is a house organization for realtors, it was incredibly downbeat with the chief economist lawrence jeune calling it the last hora and saying the economy was experiencing a temporary peak. boy, i'll tell you i didn't find that reassuring. that's terrific for traffic and spending, right? i mean they whacked it for a buck 39. plus it's incredibly hard to figure out what to do with financials. they're going up because they do...
33
33
Sep 24, 2013
09/13
by
CNBC
tv
eye 33
favorite 0
quote 0
if interest rates go up, prices may come down so that monthly nut which is how most realtors i talk to say people actually factor in their buying decisions that will become more affordable. >> you're absolutely right in the context people buy a payment and right now, our general view is that the pressure in the buying market is really against first-time home buyers who are stretching to make that payment. but the middle section of the home buyer market the luxury segment is doing well and lennar and kbh expect that today. we expect those trends to continue. >> is there any possibility that mortgage rates may actually start to come back down again and we've already got the ten year there, below the 2.7 mark and i was talking on futures now, earlier on today with david from new edge and he says there's going to be no taper until next year and at the end of this year he sees the ten year at 2.5 or' ven 2.35, maybe there's hope for someone who hasn't financed. >> i'm not making a call on interest rates but if you think the ten-year yields will go back to 250 and mortgage financing on a 30-
if interest rates go up, prices may come down so that monthly nut which is how most realtors i talk to say people actually factor in their buying decisions that will become more affordable. >> you're absolutely right in the context people buy a payment and right now, our general view is that the pressure in the buying market is really against first-time home buyers who are stretching to make that payment. but the middle section of the home buyer market the luxury segment is doing well and...
141
141
Sep 19, 2013
09/13
by
CNBC
tv
eye 141
favorite 0
quote 0
interesting, though, the realtors say that rates will not help the housing recovery going into fall. they say that august was, in fact, the last hurrah. why? sales were up 1.7%, but they say that this was buyers jumping off the fence, buying a home, because they were afraid of rising rates. where will rates go from here? well, the answer, to be determined, of course. we know they could go a little bit lower for now. but they will likely start rising again, especially as we head towards that next important jobs report. maria? >> diana, thanks very much. more reaction right now with fred glick, president of u.s. loens mortgage and real estate agent and mortgage broker. david licken, managing partner with mortgage banking solutions. gentlemen, good to see you. david, is the decline in rates after the fed decided not to taper going to be enough motivation to get those buyers back into the market? what do you think? is that enough? >> it should be. you look at where rates -- a lot of people were procrastinating and not taking advantage of the lower rates. this is their opportunity. i thin
interesting, though, the realtors say that rates will not help the housing recovery going into fall. they say that august was, in fact, the last hurrah. why? sales were up 1.7%, but they say that this was buyers jumping off the fence, buying a home, because they were afraid of rising rates. where will rates go from here? well, the answer, to be determined, of course. we know they could go a little bit lower for now. but they will likely start rising again, especially as we head towards that...
163
163
Sep 12, 2013
09/13
by
CNBC
tv
eye 163
favorite 0
quote 0
cindy is a realtor with century 21, martinez and associates. so what, cindy, does the las vegas market look like? let's look at some stats. single-family homes in august. median sales price, $182,000, up 30% year over year. almost 32%. the inventory, 14,000 houses on the market there. that's down 15%. sales down a little bit. 4.3% year over year. average days on the market, 78. is the market likely to stay hot, cindy? >> absolutely. 2013 has definitely been the year of recovery for the las vegas housing market, largely due to a reduction in inventory. and available inventory meaning it's not a short sale or some other sort of distress sale. >> let's move on. you've picked some out. they look very interesting. the first one is 6394 west haleh avenue. taxes, $902,000, $160,000, three bedrooms, two baths. 1257 square feet. >> at $160,000, this property exemplifies a starter home here in the valley. it's located in the fastest growing southwest portion near some master plan communities and our newest water park, minutes from mccarron international
cindy is a realtor with century 21, martinez and associates. so what, cindy, does the las vegas market look like? let's look at some stats. single-family homes in august. median sales price, $182,000, up 30% year over year. almost 32%. the inventory, 14,000 houses on the market there. that's down 15%. sales down a little bit. 4.3% year over year. average days on the market, 78. is the market likely to stay hot, cindy? >> absolutely. 2013 has definitely been the year of recovery for the...
59
59
Sep 2, 2013
09/13
by
CNBC
tv
eye 59
favorite 0
quote 0
. >> when i had the realtor find me places... >> yeah? >> i knew i was looking for medium income. >> right. >> i knew i was looking for traffic. >> yes. >> and i knew that i wanted to make sure there was a coffee place, a gas station... >> oh. >> and an ice cream place. >> interesting. >> the ice cream store will get traffic at night, coffee's morning and night... >> yes. >> and the gas is repetitive traffic. i don't know. i kind of like the spot, though, because it's right on the entrance. do you agree? >> my gut says no. first of all, nobody buys popcorn in the mornings. >> but it's packed. >> no, but i don't want to be in a boring spot. i don't want a store in a mall. just because marcus has a billion dollars doesn't mean he knows the best location for a popcorn store. >> all right, let's just go check this place you want to look at and compare it. >> okay. >> sharla didn't like the storefront that i chose. maybe she thought there was too much traffic or too many customers walking around. over here? >> yes. it's a great corner. it's th
. >> when i had the realtor find me places... >> yeah? >> i knew i was looking for medium income. >> right. >> i knew i was looking for traffic. >> yes. >> and i knew that i wanted to make sure there was a coffee place, a gas station... >> oh. >> and an ice cream place. >> interesting. >> the ice cream store will get traffic at night, coffee's morning and night... >> yes. >> and the gas is repetitive traffic. i don't...
187
187
Sep 26, 2013
09/13
by
CNBC
tv
eye 187
favorite 0
quote 0
a broker with haas & company realtor. let's look at their relevant stats. average sale price, $321,900, 3.1 months of inventory, property, about 70 days on the market. jules, let's go to the first one. 978 north haven in portland, asking $239,000, three beds, 2 1/2 baths. why do you like this one? >> tiler, i love this house because not only the house itself but the community was built with the idea of walking. so these homes were built very energy efficient. so not only do you have a great price point to start, but you have low cost as you continue it care for the home over the year p. >> so this is fairly close to town, you can walk into the downtown or what? >> it's actually a planned community. so you can walk to your neighbor's. you've got local prk. so you've got a lot of walkability within your community. but also about ten minutes from downtown. >> very neat and clean and look like a wonderful starter home. second listing, 10323 northwest engelman street in portland, tax about $8,000 a year there, three bedroom, 2 1/2 baths, 3,000 square feet. this
a broker with haas & company realtor. let's look at their relevant stats. average sale price, $321,900, 3.1 months of inventory, property, about 70 days on the market. jules, let's go to the first one. 978 north haven in portland, asking $239,000, three beds, 2 1/2 baths. why do you like this one? >> tiler, i love this house because not only the house itself but the community was built with the idea of walking. so these homes were built very energy efficient. so not only do you have a...
147
147
Sep 10, 2013
09/13
by
CNBC
tv
eye 147
favorite 0
quote 0
what we've seen since january is the national association of realtors measure of affordability has been plummeting. this is a notoriously bad index, because even during the entire housing bubble, it never showed that houses were becoming unaffordable. it said they were less affordable but never breached what the nar says is the affordability level. what it did do and what it's done again, during the last housing bubble, it breached the long-term 20-year trade line. what you see on this chart right here is that we once again have fallen below for three or four months now, the long-term trend line. that's a sign that we may be in a housing bubble. home prices are becoming less affordable because interest rates are going up and home prices are going up. and people's incomes are not rising at that kind of level. so that makes homes less affordable. when you get a lot of months of below trend affordability that's a danger. >> does the crossing of that trend line and the fact that the affordability number is coming down, does that tell you that prices must come down or that prices will stop g
what we've seen since january is the national association of realtors measure of affordability has been plummeting. this is a notoriously bad index, because even during the entire housing bubble, it never showed that houses were becoming unaffordable. it said they were less affordable but never breached what the nar says is the affordability level. what it did do and what it's done again, during the last housing bubble, it breached the long-term 20-year trade line. what you see on this chart...
162
162
Sep 26, 2013
09/13
by
CNBC
tv
eye 162
favorite 0
quote 0
the realtors are still expecting for an 11% increase in total sales for 2013 but they're saying they do not expect home sales to move at all in 2014. back to you, simon. >> thank you very much, diana. in the meantime, we're just four days away from a potential government shutdown. speaker of the house john boehner is about to give us his analysis of what will happen in the house. let's bring in our own john harwood. what are we expecting boehner to say? >> what we're expecting, simon, is he's going to come out from a meeting with republican members and talk about what the republicans are going to ask of democrats and the obama administration in return for raising the debt limit. remember the house has already passed a bill to extend government funding. they included the defund obama care provision, said it's going to strip that out. it appears that republicans, though they may add another condition to that bill, are mostly moving their attention to the debt limit, which treasury secretary lew told us yesterday we would hit on october the 17th. so the debt limit has to be increased by
the realtors are still expecting for an 11% increase in total sales for 2013 but they're saying they do not expect home sales to move at all in 2014. back to you, simon. >> thank you very much, diana. in the meantime, we're just four days away from a potential government shutdown. speaker of the house john boehner is about to give us his analysis of what will happen in the house. let's bring in our own john harwood. what are we expecting boehner to say? >> what we're expecting,...
146
146
Sep 5, 2013
09/13
by
CNBC
tv
eye 146
favorite 0
quote 0
i spoke to five realtors in the last to weeks and they are doing well. i spoke to a rel or last week who had five bids on the same home and it was a jumbo mortgages. >> people don't stop buying houses. they end up buying smaller houses to accommodate for the higher mortgage rate. >> we'll follow it. dan, scott, thank you for your time this morning. if you want to read up more again on jumbo rates, it's on the front page of the journal today. >>> samsung unveiled galaxy gear smart watch. it works as an accessory to the smartphone. small screen offers photos, well, i think it's a camera, hands-free calls and instant messages. some question whether it's too costly. priced just about $300. qualcomm is getting in on the game with its talk smart watch which can play music and handle phone messages. i would have talk the talk would have been more appropriate for you because you probably don't have the galaxy which the samsung relies sglon also, i like to talk. there's that which led me to my current career, by the way. the reality is if it's linked to your phon
i spoke to five realtors in the last to weeks and they are doing well. i spoke to a rel or last week who had five bids on the same home and it was a jumbo mortgages. >> people don't stop buying houses. they end up buying smaller houses to accommodate for the higher mortgage rate. >> we'll follow it. dan, scott, thank you for your time this morning. if you want to read up more again on jumbo rates, it's on the front page of the journal today. >>> samsung unveiled galaxy gear...
125
125
Sep 19, 2013
09/13
by
CNBC
tv
eye 125
favorite 0
quote 0
is that not a falls false realtor is it based on things not breaking up? >> listening to the other news about portugal, about cyrus, obviously, the news is there still there for the euro crisis to come back and start creating all kinds of problems again. so it is too early, really, to declare a victory and say, europe, we dealt with it, it's all good and we're heading towards a bright future. it's way too early. but you have to realize in all this sentiment in markets is a crucial variable. for as long as whatever the reasons, global capital markets are willing to look at this with a sort of constructive approach that actually increases the probability that the crisis will not return. it's clearly clear better. >> not with the economics, necessarily, of getting better. they're slightly better than they were. >> you clearly have a cyclical pick up in the south. that is actually quite amazing pap bit comparable to what we've seen in the uk. really an amazing period of three, four months in which all data started to improve. and the big question, of course, i
is that not a falls false realtor is it based on things not breaking up? >> listening to the other news about portugal, about cyrus, obviously, the news is there still there for the euro crisis to come back and start creating all kinds of problems again. so it is too early, really, to declare a victory and say, europe, we dealt with it, it's all good and we're heading towards a bright future. it's way too early. but you have to realize in all this sentiment in markets is a crucial...
200
200
Sep 17, 2013
09/13
by
CNNW
tv
eye 200
favorite 0
quote 0
. >>> coming up, it might not be a christmas for you as realtors. forecasters are looking for a grim shopping season. "money time" is coming up next. >>> and then more on the massacre that left 13 dead at the navy yard in washington, d.c. john berman is standing by there live for us. >>> welcome back. 23 minutes past of the hour. it is money time. christine romans is off. here we go. stock futures mostly high this morning following another winning day for the dow industrials. the dow gained points on monday. the nasdaq closed with a loss. so far in september dow gained 684 points and just about wipes occupy the 689 points the dow lost in august. september has traditionally than the most volatile month for the stock market but this year may be an exception. we will see. two-day meeting today by the federal reserve that people have been waiting for with bated breath. they will find out how the fed is pulling back on the billions of dollars popping into the bond market in months. ben bernanke is expected to give a clear decision on tomorrow's meeting.
. >>> coming up, it might not be a christmas for you as realtors. forecasters are looking for a grim shopping season. "money time" is coming up next. >>> and then more on the massacre that left 13 dead at the navy yard in washington, d.c. john berman is standing by there live for us. >>> welcome back. 23 minutes past of the hour. it is money time. christine romans is off. here we go. stock futures mostly high this morning following another winning day for...
64
64
Sep 19, 2013
09/13
by
CSPAN
tv
eye 64
favorite 0
quote 0
you said you were a realtor. if i understand, a realtor's ,ob, you bring the customer in they are thinking about buying a home, you talk to them. , showok at the listings them the listings, maybe a photograph. yes, i have sold many homes. >> how about somebody that never walked into the home you sold? did they get to look at all the rooms? did you go in the basement? >> basements are a challenge for us. >> i understand. in michigan, we have basements. before a person buys a home, they get to walk in and go into each room, maybe test of the appliances, correct? >> yes. >> ok. >> if i can add, i wouldn't sell a person a home if they didn't know what they were bargaining for. that is one of the largest investments in their life. doing so is reckless and inappropriate. >> before they buy that documents. you tell them what they are getting and what they are not getting, right? >> as well as a number of disclosures. >> you would lead your customers read the contract before they signed? correct? or at least have their a
you said you were a realtor. if i understand, a realtor's ,ob, you bring the customer in they are thinking about buying a home, you talk to them. , showok at the listings them the listings, maybe a photograph. yes, i have sold many homes. >> how about somebody that never walked into the home you sold? did they get to look at all the rooms? did you go in the basement? >> basements are a challenge for us. >> i understand. in michigan, we have basements. before a person buys a...
56
56
Sep 14, 2013
09/13
by
CSPAN
tv
eye 56
favorite 0
quote 0
on the other side, there is a minority of republicans and the home builders and realtors and others saying that you need to do something. you have the proposal that says somebody should be able to sell a lender who is a 30 year fixed rate mortgage a guarantee against interest rate fluctuation, a hedge, which should not be a bad word in general priced to breakeven. my own view is the flipside of banning the bad mortgages which we did is to put more money into rental housing. we should get poor people into rental housing and not homeownership. there are two conflicting views. one is to build a house and get he government out of the business. the alternative is getting some kind of guarantee again to -- against interest rate fluctuation. >> the problem is, and it's one of the reasons it went worldwide, other places that used to rent got into buying and picked up some of these securities. when you take a social desire like everybody should go to college and you create a system in which everyone should go to college and therefore everyone gets to go to college, and you then say what good is it
on the other side, there is a minority of republicans and the home builders and realtors and others saying that you need to do something. you have the proposal that says somebody should be able to sell a lender who is a 30 year fixed rate mortgage a guarantee against interest rate fluctuation, a hedge, which should not be a bad word in general priced to breakeven. my own view is the flipside of banning the bad mortgages which we did is to put more money into rental housing. we should get poor...
82
82
Sep 19, 2013
09/13
by
CSPAN
tv
eye 82
favorite 0
quote 0
the national association of realtors existing home sales for august, and freddie mac will mortgage rates. some of the list of headlines on c-span radio. >> "washington journal" continues. >> congressman jim mcgovern, democrat, massachusetts, second ranking democrat on the rules committee. a big meeting yesterday. what happened? guest: we met on a bunch of things, including the new chief -- the nutrition bill and the continuing resolution. there is a lot happening in washington, but unfortunately not a lot of it is good. i worry very much that some of the cutbacks that the republican leadership has proposed will .urt the most vulnerable i believe that if government stands for anything, we need to stand for those struggling, who are vulnerable, who need our help. donald trump does not need government. some poor person who lost their job who is trying to put food on their table does. the rules committee met, along meeting, and today -- a long meeting, and today we will debate the rules and we will debate majority leader eric cantor's nutrition bill, which will do a lot of harm to people in
the national association of realtors existing home sales for august, and freddie mac will mortgage rates. some of the list of headlines on c-span radio. >> "washington journal" continues. >> congressman jim mcgovern, democrat, massachusetts, second ranking democrat on the rules committee. a big meeting yesterday. what happened? guest: we met on a bunch of things, including the new chief -- the nutrition bill and the continuing resolution. there is a lot happening in...
107
107
Sep 13, 2013
09/13
by
CSPAN
tv
eye 107
favorite 0
quote 0
on the other side, there is a minority of republicans and the home builders and realtors and others saying that you need to do something. proposal that says to sell should be able a lender who is a 30 year fixed rate mortgage a guarantee against interest rate fluctuation, a hedge, which should not be a bad word in general priced to breakeven. view is the flipside of banning the bad mortgages which we did is to put more money into rental housing. we should get poor people into rental housing and not homeownership. there are two conflicting views. and geto build a house the government out of the business. is getting some kind of guarantee again to -- against interest rate fluctuation. >> the problem is, and it's one of the reasons it went worldwide, other places that used to rent got into buying and picked up some of these securities. when you take a social desire like everybody should go to college and you create a system in which everyone should go to college and therefore everyone gets to go to college, and you then say what good is it to go to college? if you start out believing everyone
on the other side, there is a minority of republicans and the home builders and realtors and others saying that you need to do something. proposal that says to sell should be able a lender who is a 30 year fixed rate mortgage a guarantee against interest rate fluctuation, a hedge, which should not be a bad word in general priced to breakeven. view is the flipside of banning the bad mortgages which we did is to put more money into rental housing. we should get poor people into rental housing and...
77
77
Sep 23, 2013
09/13
by
CSPAN2
tv
eye 77
favorite 0
quote 0
you said you were a realtor, correct? if i understand the realtor's job, you bring the customer and that is thinking of buying a home, find out what kind of home they want, look at the listings, show them the listing may be a photograph, correct? you sold a home to somebody -- >> i sold many homes to the first-time home buyers. >> what about somebody that never walked into the home? did you get to look at all of the rooms? i think they are in slabs a lot of them. before a person buys a home and they get to walk in and go into each room and test the appliances -- >> if i could add i would never sell a home to someone that didn't know what they were bargaining for because frankly that is one of the single largest investments in their life, their personhood, their entire family and doing so is reckless and inappropriate. >> before they buy that home, you give them the documents -- you go over the purchase agreement and tell them what they are getting and what they are not getting, correct? >> that is absolutely correct as we
you said you were a realtor, correct? if i understand the realtor's job, you bring the customer and that is thinking of buying a home, find out what kind of home they want, look at the listings, show them the listing may be a photograph, correct? you sold a home to somebody -- >> i sold many homes to the first-time home buyers. >> what about somebody that never walked into the home? did you get to look at all of the rooms? i think they are in slabs a lot of them. before a person...
92
92
Sep 14, 2013
09/13
by
CSPAN2
tv
eye 92
favorite 0
quote 0
i'm licensed realtor as well in the state of michigan. i've already had people come to me to talk about foreclosure and short sale. concerned about losing their homes. the president has stated from the beginning and throughout that he was concerned about preserving the middle class. pension and health care cuts will road the middle class. there will be -- [applause] there will be an increase in foreclosures. companies have to lose their home and move to other communities or states. retirees who -- reconsider buying new homes, cars, and -- i won't say the rest. i'm getting cut off here. [laughter] we have earned the right to our pension. nobody should be taking anything from us. we're here today as a direct -- collective voice to have a loud and clear voice to for the nation that a cut to any retiree's pension and benefits is unacceptable, and we will continue to fight urnlingsz blank -- and author and president of college for women, she studies economic stratification of the american populace status of african-american anemia particular.
i'm licensed realtor as well in the state of michigan. i've already had people come to me to talk about foreclosure and short sale. concerned about losing their homes. the president has stated from the beginning and throughout that he was concerned about preserving the middle class. pension and health care cuts will road the middle class. there will be -- [applause] there will be an increase in foreclosures. companies have to lose their home and move to other communities or states. retirees who...
63
63
Sep 13, 2013
09/13
by
CSPAN2
tv
eye 63
favorite 0
quote 0
was the proposed rule over 1,000 pages and effect everyone involved in purchase home buyers, lenders, realtors. as i understand it given how much technical work getting everyone's system updated and ready. i would like to think it would be impossible have it implemented before january 14th. is that true? >> the rule of the one of the special mortgage rule. i wonder what efforts you're doing taking to minimize the cost on the rule on small businesses. >> yeah. thank you for the question. just as you're hearing about it we're also hearing about if. we try to think about exactly what purpose that serves and. obviously the point i know is to create some uniformity so there is more comparison an analysis of the market. whether it's needs to be done now. >> my time is just about over. i hope you look at cost-benefit analysis that doesn't happen enough in this. and have any impact on small businesses. >> thank you, chairman. i yield back. >> the time is expired. the chair recognizes the gentle mab from florida. >> thank you. i want to talk about to you pay done loan or advanced product. how do you fe
was the proposed rule over 1,000 pages and effect everyone involved in purchase home buyers, lenders, realtors. as i understand it given how much technical work getting everyone's system updated and ready. i would like to think it would be impossible have it implemented before january 14th. is that true? >> the rule of the one of the special mortgage rule. i wonder what efforts you're doing taking to minimize the cost on the rule on small businesses. >> yeah. thank you for the...
73
73
Sep 10, 2013
09/13
by
CSPAN2
tv
eye 73
favorite 0
quote 1
i'm a licensed realtor as well in the state of michigan. i've already had people come to me talk about foreclosure and short sale concerned about losing their home. the vast majority of retirees are the middle class. baby boomers, the president has stated from the beginning and throughout that hef concerned about preserving the middle class. pension and health care cuts will road the middle class. there will be -- [applause] thank you. there will be an increase of foreclosures. which will further erode fragile communities that are struggling to survive. and revitalize. cities will begin to lose revenue through property taxes as people lose their homes and move to other communities or states. retirees who will consider buying -- reconsider buying new homes, cabs, -- cars. i won't say the rest. i'm getting cut off here. i want to leave this with you. we have earned the right our pensions. no one is giving up anything and no one should be taking nick from us. we are here today as a collective voice to have a loud and clear voice to mr. or, the
i'm a licensed realtor as well in the state of michigan. i've already had people come to me talk about foreclosure and short sale concerned about losing their home. the vast majority of retirees are the middle class. baby boomers, the president has stated from the beginning and throughout that hef concerned about preserving the middle class. pension and health care cuts will road the middle class. there will be -- [applause] thank you. there will be an increase of foreclosures. which will...
79
79
Sep 26, 2013
09/13
by
CSPAN2
tv
eye 79
favorite 0
quote 1
i'm back in work as a realtor to pay for health care. my annuity and social security barely cover my basic cost of mortgage, taxes, every escalating insurance, car payment, utility, daily living, business expenses. then i i can't make too much money drawing social security benefits because they'll be taken away. because i'm not hit with full retirement age of 66. a lot i visited my social security office four times in the last year, i did not learn until coming here that the money would not be withheld forever. ly get enhance benefit at age 66. regardless, that doesn't help me now. because living on a limited budget for the last year or so, i've had to charge doctor's visits, dentist visits along with unanticipated expenses to the credit cards. until now, my debt has been manageable and my credit rating near 800. now it's swollen to five figure and the credit rating has been diminished. i lost an opportunity refinance my house because my credit score had dropped. so there's no vacation or cruises or luxury items for me. there will be no
i'm back in work as a realtor to pay for health care. my annuity and social security barely cover my basic cost of mortgage, taxes, every escalating insurance, car payment, utility, daily living, business expenses. then i i can't make too much money drawing social security benefits because they'll be taken away. because i'm not hit with full retirement age of 66. a lot i visited my social security office four times in the last year, i did not learn until coming here that the money would not be...
57
57
Sep 13, 2013
09/13
by
CSPAN2
tv
eye 57
favorite 0
quote 0
would say is we have been in close touch with both larger and smaller institutions and lenders but also realtors and homebuilders and appraisers and everyone else has a stake in this market over the course of this year. most of the institutions have told us that they will be in compliance and they have had concerns about it and they have been nervous about it. they have been looking for questions to be answered and certain relief to be given on operational issues. i think for the most part they have said they will be in substantial compliance by january 10. with a smaller institutions it includes special provisions and i alluded to them a moment ago that sometimes a smaller banks and credit unions don't seem to be yet aware of so it is incumbent on us and i'll be happy to work with all of you to get that message out. some of them are worried about the qm rule and i had this come up in north carolina yesterday and had a come up with oklahoma bankers last week. it covers the vast majority of community banks. anything they make and keep in a portfolio which is what many of them do which means that
would say is we have been in close touch with both larger and smaller institutions and lenders but also realtors and homebuilders and appraisers and everyone else has a stake in this market over the course of this year. most of the institutions have told us that they will be in compliance and they have had concerns about it and they have been nervous about it. they have been looking for questions to be answered and certain relief to be given on operational issues. i think for the most part they...
64
64
Sep 17, 2013
09/13
by
CSPAN2
tv
eye 64
favorite 0
quote 0
you had this coalition, banks, realtors, the poor people's advocates, liberals i am critical of them for this because hank is right. that, only solace i have is, statutory authority is still there. i hope within a few years they will reconsider that. >> take the mic down the middle. gentleman here on the left. then we go one to the back. >> there is huge lobbying. >> guy in the green. >> is there, you mentioned earlier that there's still a lot to be done abroad. is there or should there be a contingency plan in case now very big chinese banks would run into trouble or even fail? >> contingency plan for what? >> he said should there be contingency plan if one of the big chinese banks fail? that would be popular. [laughing] >> but what barney said, there are some things it is very hard to plan for. but, there is certainly, you know, we did contingency planning when i was secretary treasury. i'm sure they do contingency planning for stress tests for big global banks failing and for crises starting other places. now even, our financial crisis i maintain was not a u.s. financial crisis. i
you had this coalition, banks, realtors, the poor people's advocates, liberals i am critical of them for this because hank is right. that, only solace i have is, statutory authority is still there. i hope within a few years they will reconsider that. >> take the mic down the middle. gentleman here on the left. then we go one to the back. >> there is huge lobbying. >> guy in the green. >> is there, you mentioned earlier that there's still a lot to be done abroad. is there...
86
86
Sep 30, 2013
09/13
by
FBC
tv
eye 86
favorite 0
quote 0
now there's a push by the realtor group that always pushed the realtors and community groups for fha to do much more risky lending which will create more problems for fha, so the future is not a good one. tracy: how do you get rid of it? politically, how can you get enough votes, enough backing to finally get rid of this thing altogether? >> it really is a great question because fha has made foreclosures commonplace. the first 30 years it had virtually none. 1975-2000 it had over 3 million. even worse for low income minority borrowers. so really getting rid of it is important. reforming it is important, very hard to reform, very hard to get rid of. the act that came out of the house financial services committee makes a good start at reform, more needs to be done. fha has been very resistant to reform. national association of realtors despite reform at every turn. tracy: what would your suggestion be for this behemoth? >> my suggestion is they look back at what made them successful in the first 30 years, which was balancing risk and not putting people into homes they couldn't afford.
now there's a push by the realtor group that always pushed the realtors and community groups for fha to do much more risky lending which will create more problems for fha, so the future is not a good one. tracy: how do you get rid of it? politically, how can you get enough votes, enough backing to finally get rid of this thing altogether? >> it really is a great question because fha has made foreclosures commonplace. the first 30 years it had virtually none. 1975-2000 it had over 3...
138
138
Sep 26, 2013
09/13
by
FBC
tv
eye 138
favorite 0
quote 0
national association of realtors' index fell by 1.6% in august. was revised lower to 1.4% reaching the 6 year high. the index followed since june, mortgage rates slowing home sales momentum. number of americans filing new claims for jobless benefits fell to a 6 year low, jobless claims dropped by 5,000 to 305,000. the estimate was 325,000. the u.s. economy grew at a 2.5% annual rate in the second quarter. the commerce department says its final economic growth was unchanged from last month's estimate. congress was expecting them to.6%. that is latest from the fox business network giving you the power to prosper. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on sial media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. dagen: robinson cano wants bed in money, and
national association of realtors' index fell by 1.6% in august. was revised lower to 1.4% reaching the 6 year high. the index followed since june, mortgage rates slowing home sales momentum. number of americans filing new claims for jobless benefits fell to a 6 year low, jobless claims dropped by 5,000 to 305,000. the estimate was 325,000. the u.s. economy grew at a 2.5% annual rate in the second quarter. the commerce department says its final economic growth was unchanged from last month's...
64
64
Sep 21, 2013
09/13
by
FBC
tv
eye 64
favorite 0
quote 0
. >> according to the national association of realtors with a break of $7,000 he will not have that in all of the market that better in the midwest $10,000 or 20,000. gerri: you say you get a 10,000 drake on average? >> nationwide in the northeast, why not? if your interested in a bet and breakfast it is now time to putting your offer. >> for people to might be looking but the reality is historically it is low. >> looked at the growth forecast slow growth and mortgage rates our low because of fact. gerri: use a search creatively people dead in their mind what they want. >> we have a five month supply? and then they take their stuff off the market. looking high and dry with the alerts sent to them even if they are even and mildly interested they just want to be averted when there is some sort of movement but in then i am a potential buyer. a given us some context. >> if you are interested in buying a ski house where down in florida that is where people want to go this time of year he will not find these types of discounts but in some of those places why not? the demand picks up when you
. >> according to the national association of realtors with a break of $7,000 he will not have that in all of the market that better in the midwest $10,000 or 20,000. gerri: you say you get a 10,000 drake on average? >> nationwide in the northeast, why not? if your interested in a bet and breakfast it is now time to putting your offer. >> for people to might be looking but the reality is historically it is low. >> looked at the growth forecast slow growth and mortgage...